StockNews.com Upgrades Malibu Boats (NASDAQ:MBUU) to “Hold”

Malibu Boats (NASDAQ:MBUU) was upgraded by equities research analysts at StockNews.com from a “sell” rating to a “hold” rating in a research note issued on Monday.

A number of other equities analysts also recently weighed in on MBUU. B. Riley decreased their target price on shares of Malibu Boats from $45.00 to $39.00 and set a “neutral” rating for the company in a research note on Tuesday, April 16th. KeyCorp decreased their target price on shares of Malibu Boats from $50.00 to $38.00 and set an “overweight” rating for the company in a research note on Friday, May 3rd. Raymond James downgraded shares of Malibu Boats from an “outperform” rating to a “market perform” rating in a research note on Monday, April 15th. Truist Financial decreased their target price on shares of Malibu Boats from $52.00 to $42.00 and set a “buy” rating for the company in a research note on Friday, May 3rd. Finally, Benchmark started coverage on shares of Malibu Boats in a research note on Wednesday, May 22nd. They set a “buy” rating and a $44.00 target price for the company. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, Malibu Boats currently has an average rating of “Moderate Buy” and an average target price of $43.14.

Malibu Boats Stock Performance

Shares of MBUU opened at $35.83 on Monday. The company has a debt-to-equity ratio of 0.03, a current ratio of 1.67 and a quick ratio of 0.66. Malibu Boats has a one year low of $31.47 and a one year high of $60.72. The company has a 50-day simple moving average of $35.85 and a two-hundred day simple moving average of $43.00. The firm has a market capitalization of $732.37 million, a PE ratio of -13.42 and a beta of 1.41.

Malibu Boats (NASDAQ:MBUU) last issued its quarterly earnings data on Thursday, May 2nd. The company reported $0.54 EPS for the quarter, topping the consensus estimate of $0.40 by $0.14. Malibu Boats had a negative net margin of 5.19% and a positive return on equity of 18.01%. The business had revenue of $203.42 million during the quarter, compared to analyst estimates of $205.83 million. On average, analysts anticipate that Malibu Boats will post 1.84 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Mark W. Lanigan bought 20,000 shares of the business’s stock in a transaction on Monday, May 6th. The stock was acquired at an average price of $33.43 per share, with a total value of $668,600.00. Following the transaction, the director now owns 73,368 shares in the company, valued at approximately $2,452,692.24. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 1.62% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Malibu Boats

A number of large investors have recently added to or reduced their stakes in MBUU. Swiss National Bank grew its position in Malibu Boats by 1.8% in the 3rd quarter. Swiss National Bank now owns 45,400 shares of the company’s stock worth $2,226,000 after purchasing an additional 800 shares during the period. UBS Group AG boosted its holdings in shares of Malibu Boats by 33.7% during the 3rd quarter. UBS Group AG now owns 147,563 shares of the company’s stock valued at $7,234,000 after purchasing an additional 37,217 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of Malibu Boats by 12.0% during the 3rd quarter. Deutsche Bank AG now owns 13,306 shares of the company’s stock valued at $652,000 after purchasing an additional 1,427 shares during the last quarter. Aviva PLC bought a new position in shares of Malibu Boats during the 3rd quarter valued at about $593,000. Finally, Grantham Mayo Van Otterloo & Co. LLC boosted its holdings in shares of Malibu Boats by 57.8% during the 3rd quarter. Grantham Mayo Van Otterloo & Co. LLC now owns 196,943 shares of the company’s stock valued at $9,654,000 after purchasing an additional 72,120 shares during the last quarter. Institutional investors own 91.35% of the company’s stock.

Malibu Boats Company Profile

Malibu Boats, Inc designs, engineers, manufactures, markets, and sells a range of recreational powerboats. It operates through three segments: Malibu, Saltwater Fishing, and Cobalt. The company provides performance sport boats, and sterndrive and outboard boats under the Malibu, Axis, Pursuit, Maverick, Cobia, Pathfinder, Hewes, and Cobalt brands.